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1 Serpentine Drive
Atlantic Highlands, NJ 07716
$4,000,000
Conventional
Property
Bedroom
6
Bathroom
4
Property Type
Conventional
Square ft
--
Property Description
This gated estate, lovingly named ''Westwind'', is set high in the hills of the Navesink area in the heart of Monmouth County. This approximately ten acre setting is home to noteworthy gardens and wooded land, historic masonry, three architecturally unique homes and a bank barn, all with rich history. Upon entering the property from the cobblestone lined driveway it becomes immediately apparent how special this home is. According to the Middletown Township Historical Society, the main home was started in 1894 and stands on a foundation of nearly 100,000 bricks. The main house is filled with pocket doors, French doors, stained glass, curved glass windows, recessed solid wood paneling, wood window seats, hardwood floors, coffered ceilings, and custom wood carvings. The architecture of the house embraces typical victorian elegance throughout. This home incorporates three stories and an attic and basement. Enter into the grand foyer of the main home complete with hardwood floors, wood paneling, coffered ceilings, and fireplace. The elegant wooden staircase features two under-stair closets and is lined with original curved glass windows, making it a timeless feature. The downstairs plays host to a fully updated kitchen complete with informal dining room with built-ins, center island breakfast bar, six-burner stove with hood, wood paneled refrigerator and dishwasher, crown moldings, coffered ceilings, recessed lighting and chandeliers, and pantry. The kitchen leads out to a formal dining room that overlooks the courtyard and pool. In between the dining room and kitchen is a butler's pantry featuring built-ins, wet sink, and wood burning stove. The formal living room has a fireplace, stained glass window, original casement windows, crown moldings, hardwood floors and pocket doors. The semicircular library with fireplace and original curved windows overlooks the formal front lawn. Full bathroom and one quarter bathroom downstairs. An additional wooden staircase in the back of the house, off the kitchen grants access to all levels. On the second story, you will find six bedrooms, three with their own fireplaces, and two full bathrooms. All bedrooms offer views of surrounding greenery. The master bathroom's tailor-made cabinetry provides generous storage space. A balcony off the second floor is graced with beautiful views. On the third floor, there are additional rooms, a full bathroom with original claw foot tub, a round wood paneled drawing room complete with dry bar. View the New York skyline and the bay through arch loggias on a second private covered balcony on the third level. Off the kitchen is an enclosed porch that overlooks the back gardens. A separate wrap around covered porch allows for beautiful views of the property, well maintained gardens complete with decorative specimen trees that have granted this estate its agricultural exemption. The property is sequestered by a periphery of tall oak trees and three gated entrances. The picturesque bank barn is covered in old growth ivy and once was home to the family's horses. Alongside the main house, there is a carriage house with four bedrooms, one and a half bathrooms, kitchen, living room, dining room, and two garages. The original home is filled with crown moldings, wavy glass wood-paned windows, stained glass, hardwood floors, wood paneled walls, and intricate tile work. Four bedrooms, two full bathrooms, kitchen, living room, dining room,, enclosed wrap around porch, and two-car garage. This home also has views of the sweeping lower lawn and ivy covered barn. The property of Westwind is well located for quick access to beaches, restaurants and NYC.
Property Information
Lot Size
9 acre(s) square ft
Property Type
Residential
Year Built
1908
MLS Number
22411552
Location
Address
1 Serpentine Drive
City
Atlantic Highlands
State
NJ
Zip Code
07716
County
MONMOUTH (NORTH)
Listing
Provider
Heritage House Sotheby's International Realty, original listing
Name
Heritage House Sotheby's International Realty
Phone
(732) 615-9898
Office Name
Heritage House Sotheby's International Realty
Office Phone
(732) 615-9898
Agent Name
Marlene Albrecht

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.